Global steel demand will increase by 0.5% in 2017. This year global steel demand will increase by 0.2% to 1.501 billion tons. It is due to the increasing demand in China and Russia.

China imports accounted two thirds of the world's seaborne iron ore. China promises to decrease steel capacity by 45 million tons this year. However, China's crude steel production grew up for a sixth straight month in August, while its exports of the alloy hit last year's record of 1.12 billion tons.